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In 1980, Barbara Corcoran's boyfriend/business partner left her to marry her secretary.
21 years later, Barbara sold the company they started for a cool $66 MILLION.
21 years later, Barbara sold the company they started for a cool $66 MILLION.
She grew up with 9 siblings in a 2 bedroom apartment in New Jersey. Her parents slept on a couch in the living room. She had dyslexia as a child and one of her teachers, Sister Stella Marie told her she'd always be stupid. Barbara's mom had a great response?
Her mom said, "Don't worry about it. With your imagination, you'll learn to fill in all the blanks."
It took her a while to fill in the blanks - She goes through 22 jobs before she's 23 years old. While being a waitress at a diner, she begins dating Ramone Simone.
It took her a while to fill in the blanks - She goes through 22 jobs before she's 23 years old. While being a waitress at a diner, she begins dating Ramone Simone.
Ramone convinces her that she should be in Real Estate.
She gets a job as a receptionist at a Real Estate company called Giffuni Brothers in New York City. She ultimately wants to be her own boss, and in 1973 Ramon loans her $1,000 to start a brokerage called Corcoran-Simonè.
She gets a job as a receptionist at a Real Estate company called Giffuni Brothers in New York City. She ultimately wants to be her own boss, and in 1973 Ramon loans her $1,000 to start a brokerage called Corcoran-Simonè.
At the time, she knew 1 person in Real Estate: Mr. Guffuni.
She asked to rent out of one his apartments. He gave her the worst unit he had to rent. It was a 1-bedroom for $330. All of the ads in the NYT had similar units going for the same range.
She decided to get creative.
She asked to rent out of one his apartments. He gave her the worst unit he had to rent. It was a 1-bedroom for $330. All of the ads in the NYT had similar units going for the same range.
She decided to get creative.
She built a wall in the apartment and marketed the apartment as a 1 bedroom and den for the same price that everybody else was offering for a 1-bedroom.
That first Sunday, she got 60 phone calls from prospective tenants.
That first Sunday, she got 60 phone calls from prospective tenants.
She continued to grow the business throughout the 70's with Ramone as her partner.
In 1978, Ramone tells Barbara that he's leaving her to marry her secretary. They dissolve the company. But Ramone isn't the greatest guy in the world and has some parting words for Barbara ...
In 1978, Ramone tells Barbara that he's leaving her to marry her secretary. They dissolve the company. But Ramone isn't the greatest guy in the world and has some parting words for Barbara ...
"Barb, you'll never succeed without me."
The next day, Barbara forms The Corcoran Group.
She gets to work on growing her new business.
The next day, Barbara forms The Corcoran Group.
She gets to work on growing her new business.
In 1981, Barbara realized that reporters were hungry for real estate data. Barbara created The Corcoran Report, which was a market survey that would become widely quoted in the media.
"It was probably the single best thing I ever did."
"It was probably the single best thing I ever did."
After a few years, Black Monday hits in 1987 & markets took a dive.
Barbara took a detour & worked as a sales manager for a year for a couple New York developers.
By 1992, she was back in business as the market heated up again, closing over $400M of transactions that year.
Barbara took a detour & worked as a sales manager for a year for a couple New York developers.
By 1992, she was back in business as the market heated up again, closing over $400M of transactions that year.
Always one to embrace technology, they began listing properties online on www. corcoran . com.
By 1998, they generated sales of $85M online on $2B of total transactions for the company. Was she the pioneer of work from home?
In 1996, 25% of her brokers were working from home.
By 1998, they generated sales of $85M online on $2B of total transactions for the company. Was she the pioneer of work from home?
In 1996, 25% of her brokers were working from home.
By 1999, she was 49 years old and saw an opportunity to sell the business.
National Realty Trust (NRT) offered her $22M for the business. She countered for $66M.
They closed the deal at $66M.
National Realty Trust (NRT) offered her $22M for the business. She countered for $66M.
They closed the deal at $66M.
Upon the sale of her business, everyone was calling her a genius. However, she didn't think she was.
"After the sale, I thought the whole thing was a fluke. Who doesn’t suffer from impostor syndrome? Even when I sold my business for $66 million, I felt like an absolute fraud"
"After the sale, I thought the whole thing was a fluke. Who doesn’t suffer from impostor syndrome? Even when I sold my business for $66 million, I felt like an absolute fraud"
“The curse of being competent is self-doubt because competence rides on your own self-doubt. It’s the edge of doubt that makes you a performer in anything you do."
"Without it, you become big-headed, arrogant, and you’re just waiting for the clock to make you fall on your feet.”
"Without it, you become big-headed, arrogant, and you’re just waiting for the clock to make you fall on your feet.”
Barbara is best known for being on Shark Tank, but before anyone knew her she was labeled as "the stupid kid".
That stupid kid endured 23 jobs, had a business partner & boyfriend that left her for her secretary, and became a woman who outsmarted a male-dominated industry.
That stupid kid endured 23 jobs, had a business partner & boyfriend that left her for her secretary, and became a woman who outsmarted a male-dominated industry.
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